Unaudited IFRS data

Paris, February 15, 2006 – The Gaz de France Group reported a consolidated turnover of 7,927 million euros in the fourth quarter of 2005, up 37% (29% on a comparable basis) from the same period in 2004. As of December 31, 2005, the Group's annual turnover totaled 22,394 million euros, representing an increase of 28% (23% on a comparable basis) over 2004.

Excluding changes in consolidation, the rise in turnover in the fourth quarter of 2005, compared with the same period in 2004, was mainly due to the increase in the price of gas in France and the rest of Europe, but also to increased sales volume in the Purchase and Sale of Energy segment.

* 2004 figures pro-forma IFRS post- reform of retirement benefits financing

(1) Net sales of GDF Deutschland were reclassified from the Purchase and Sale of Energy segment to the Transmission Distribution International segment with retroactive effect as of 1/1/05. The net sales reclassified for the 12 months of 2004 and 2005 were respectively 53 million euros and 111 million euros. In the fourth quarter, these figures were respectively 28 million euros and 21 million euros.

Highlights during the quarter

• Consolidation of SPE (Société de Production Electrique) in Belgium, consolidated on a prorata basis for 25.5%, as of October 1, 2005.
• As of November 1, 2005, the Group raised its public distribution rates an average of 13.7% in conformity with the decree of June 16, 2005. On this occasion, the Group announced commercial measures the estimated total cost of which is 164 million euros (of which 62 million in 2005).
• The Group signed two transactions with Dana Petroleum, subject to the approval of relevant authorities.
• The French government decided not to increase public distribution rates for January 1, 2006, which were provided for in the ordinance of June 16,2005. Cumulative delays in tariff increases since November 2004 will reach a total of 750 million euros as of April 1, 2006. A committee of experts has been formed to propose ways to compensate the Group. Their recommendation is expected by the end of March 2006. The government reiterated that the Group would be compensated, as provided for in the public service contract.
• The Ministers of the Economy and Industry in France published new access rates in distribution and LNG terminals applied as of January 1, 2006.
• Opening of the Idku liquefied natural gas (LNG) production facility in Egypt.

Recent events

• On January 10, 2006, Gaz de France and Suez agreed on an industrial partnership project to produce electricity from gas in the south of France.
• Through its subsidiary GDF Production Nederland BV (ProNed), Gaz de France announced the launch of production at five gas fields in the Dutch North Sea sector.

Analysis of turnover in the fourth quarter of 2005

Energy Supply & Services

At 381 million euros, the turnover in the Exploration and Production segment increased by 42% over the fourth quarter of 2004. The rise is mainly linked to the higher price of petroleum products. Production, which at 7.1 mboe had fallen to a low point in the third quarter of 2005, recovered in the fourth quarter to 9.3 mboe *, thus limiting the decline from the fourth quarter of 2004 to 3.2%. Altogether, the Group's consolidated production (excluding companies accounted for by the equity method) totaled 34.8 mboe 1 in 2005, down 14.7% from 2004. In line with its commitments, the Group believes that its consolidated production will return to the level of 2004 (40.8 mboe) in 2006.

The Purchase and Sale of Energy segment reported a 29% rise in turnover in the fourth quarter of 2005 to 6,147 million euros. This growth mainly reflected the rise in the price of energy as well as an increase in sales volume.

Sale of gas

In France, in spite of less favorable weather conditions than in the fourth quarter of 2004, the volume of gas sold to residential customers remained stable at 49 TWh. The volume of natural gas sold to business customers and major industrial and commercial customers (eligible customers) was slightly lower in the fourth quarter at 97 TWh. Altogether, for the year 2005, sales volumes were stable: 139 TWh for residential customers and 304 TWh for business customers and major industrial and commercial customers.

Outside of France, the segment increased the volume of the gas it sold in the fourth quarter to 31 TWh, up 28%, mainly in the Netherlands, Italy and Spain. In 2005, segment sales outside of France rose 34% to 105 TWh.

Sale of electricity:

In France, electricity sales totaled 2.3 TWh in the fourth quarter of 2005 and 5.7 TWh for the year. The Electricity turnover in the United Kingdom (GDF ESS) jumped 43% in the fourth quarter of 2005, compared with the same period in 2004, whereas the volume sold was stable at 3.2 TWh. In 2005, the volume sold increased by 48% to 14.4 TWh and the turnover practically doubled in the period.

The almost 43% turnover rise in the Services segment was mainly due to the consolidation of Savelys. On a comparable basis, the turnover was up 17% as a result of the startup of the electric power plant at Dunkerque (DK6) on March 22, 2005, growth in business in France and Italy, and higher energy prices.

Infrastructures

Turnovers in Transmission Storage France and Distribution France in the fourth quarter were respectively up 1.7% and down 1.2% in the period. In October 2005, the Group reached a record level of stored working gas (9 billion cubic meters). In 2005, the turnover in these two segments was almost stable, respectively –1% and –0.7%.

The Quarterly turnover in the Transmission Distribution International segment jumped 138% from the last quarter of 2004. The segment benefited, in particular, from the consolidation of Distrigaz Sud (Romania) on June 30, 2005, and of SPE (Belgium) on October 1, 2005. On a comparable basis, the turnover in the segment was up 43%, reflecting tariffs rises since the end of 2004 in the Slovak Republic, Hungary and Germany. In 2005, the segment turnover thus rose 56% (21% on a comparable basis).

This press release contains forward-looking statements based on estimates and forecasts of Gaz de France's management. Readers are informed that such statements, made as of data available today, are subject to risk and uncertainty factors. Therefore, actual results or events may differ from such forward-looking information and statements, which readers shall not consider as certain. Please not that Gaz de France disclaims any obligation to update the forward-looking information contained in this press release.

Press contact : Investor Relations contact :

Jérôme Chambin - Tel : +33 1 47 54 24 35 Charles L. Ranunkel – Tel : +33 1 47 54 79 04

E-mail : jerome.chambin@gazdefrance.com E-mail : GDF-IR-TEAM@gazdefrance.com

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Gaz de France is a major energy player in Europe. The leading European natural gas supplier, the Group has more than 45,000 employees, recorded net sales of €22.4 billion in 2004, and serves 13.7 million customers, including 11 million in France. Listed on the Paris Stock Exchange since July 2005, the Group joined the CAC 40 share index and the Dow Jones Stoxx 600 in September 2005.

* Preliminary figures until reserves are reported. en attente du livre des réserves

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